-
2025-10-06•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority imposed a NZD 19.5 million penalty on IAG New Zealand Limited for fair dealing breaches under the Financial Markets Conduct Act, involving false or misleading representations of insurance products affecting about 269,000 customers. The Court considered the extent of contraventions and reporting delays as aggravating factors, while the penalty was reduced for IAG's self-reporting, early admissions, cooperation, and remediation efforts.
EnforcementInvestigations & enforcement actionsConsumer and investor protection
-
2025-10-06•New Zealand•New Zealand Financial Markets Authority
The New Zealand Financial Markets Authority has issued a public warning about a "pump and dump" scam using deepfake impersonations of business leaders to lure Kiwi investors into fraudulent trading schemes. The FMA has shared case details with overseas regulators and alerted New Zealand banks and affected businesses to the scam's tactics.
SupervisionAlertsFraud and scams
-
2025-10-06•Europe•European Central Bank
The European Central Bank's Working Paper explores how hypothetical global temperature changes impact euro area consumers' inflation expectations, revealing a 0.5°C rise increases five-year-ahead expectations by 0.65 percentage points. The study, using randomized experiments across 11 countries, links higher temperatures to expectations of increased prices, weaker growth, and higher unemployment. Despite these concerns, respondents showed limited willingness to pay for climate mitigation, averaging EUR 51 monthly.
ResearchClimate risk and sustainable finance
-
2025-10-06•Europe•European Central Bank
The European Central Bank's Working Paper examines how investment funds transmit financial spillovers from euro area shocks to Asian sovereign debt markets. Using data from 2014 to 2023, the study reveals that funds reduce Asian sovereign bond holdings when euro disaster risk rises, with larger price spillovers in markets with significant fund presence. The findings suggest sales are driven by liquidity needs rather than portfolio rebalancing, with larger and more liquid markets affected first.
ResearchMarket developmentMarket risk and volatility
-
2025-10-06•Europe•European Central Bank
In a keynote speech, ECB Executive Board member Philip R. Lane outlined the ECB's updated monetary policy strategy, emphasizing a data-dependent approach without pre-commitment to future interest rate paths. He highlighted the Governing Council's 2% inflation target and the strategy's focus on uncertainty and risk management, considering factors like geopolitics and digitalization. Lane noted inflation projections below target for 2026-27 and identified risks from euro appreciation and global supply-chain fragmentation, while ruling out a near-term policy rate increase.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
-
2025-10-06•Europe•European Central Bank
European Central Bank President Christine Lagarde addressed the European Parliament, outlining the ECB's monetary policy stance and euro area outlook, with inflation expected to remain around 2%. The ECB kept key interest rates unchanged, with future decisions data-dependent. Lagarde emphasized the euro's international role, advocating for policy progress to strengthen its position, including completing the Single Market and enhancing capital markets.
Monetary policyMonetary policy assessments & outlooksMonetary policy decisions and developments
-
2025-10-06•Italy•Italian Institute for Insurance Supervision (IVASS)
The Italian Institute for Insurance Supervision (IVASS) has ordered the cessation of unauthorized insurance intermediation on four websites and instructed Italian internet service providers to block access. This action brings the total number of blocked websites to 288 since November 2023. IVASS advises consumers to verify the legitimacy of insurance offers, especially for temporary motor third-party liability policies, by consulting IVASS lists and the insurance intermediaries register.
SupervisionInterventionsUnlicensed or unauthorized activity
-
2025-10-06•Kazakhstan•Astana Financial Services Authority
The Astana Financial Services Authority (AFSA) received its first regulatory fee payment in a USD-pegged stablecoin, marking a milestone in a pilot program for stablecoin payments by Astana International Financial Centre participants. SkyBridge Digital Finance Ltd. made the inaugural payment, facilitated by Bybit Limited. Launched during Astana Finance Days 2025, the initiative applies only to AFSA regulatory fees and excludes taxes or other government payments in Kazakhstan.
Policy & regulationImplementation, projects & pilotsStablecoins
-
2025-10-06•Malaysia•Malaysia Securities Commission
The Securities Commission Malaysia formalized Income Tax rules for the Single Family Office Incentive Scheme in the Forest City Special Financial Zone, offering a 20-year tax incentive. Conditional approval has been granted to six families with assets under management nearing RM400 million, aiming for RM2 billion by end-2026. The scheme includes tax exemptions and requires compliance with substance requirements, supported by a dedicated visa track and a one-stop service centre.
Policy & regulationRules & requirementsOther
-
2025-10-06•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has mandated Chang Jung Wook to pay a VND 1,000,000 licensing fee to reissue a securities practising certificate for financial analysis. Payment can be made via bank transfer or directly at the Commission. Failure to complete the procedure within one year will result in the cancellation of the reissued certificate.
SupervisionAuthorisations & approvalsLicensing and supervisory fees
-
2025-10-06•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission mandates individuals listed in an attached schedule to pay a VND 1,000,000 fee for a securities practising certificate, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer or in person, with identification of the recipient and certificate type required. Failure to collect the certificate within one year will result in cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
-
2025-10-06•Vietnam•Vietnam State Securities Commission
The Vietnam State Securities Commission has mandated individuals listed in an attached notice to pay a VND 1,000,000 licensing fee for securities practitioner certificates, as per the Ministry of Finance’s Circular 25/2022/TT-BTC. Payment can be made via bank transfer or directly, with specific identification details required. Failure to complete the certification procedure within one year will result in certificate cancellation.
Policy & regulationRules & requirementsLicensing and supervisory fees
-
2025-10-06•Brazil•Brazil Securities Commission (CVM)
The Brazil Securities Commission (CVM) launched World Investor Week 2025 with events in São Paulo, focusing on investor education in technology, digital finance, AI, and fraud prevention. CVM Chief of Staff Maurício Bulcão Filho highlighted the importance of equipping investors to effectively use information in capital markets, with support from IOSCO, B3, and other entities.
Financial literacy & educationFintech and insurtechFinancial literacy and education
-
2025-10-06•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission released presentation slides from September 2025 on the Bailiwick of Guernsey’s MONEYVAL evaluation and findings. Approximately 450 industry representatives attended these presentations.
Policy & regulationPeer reviews and country evaluationsAML and CFT
-
2025-10-06•Guernsey•Guernsey Financial Services Commission
The Guernsey Financial Services Commission announced the Court of Appeal's judgment in the Providence case, affirming wrongdoing findings and supporting the Commission's enforcement processes. The judgment requires the Royal Court to reconsider certain issues, potentially necessitating further Commission action. The Court of Appeal also provided guidance for company directors and confirmed the compliance of the Commission's enforcement procedures with Article 6 of the European Convention on Human Rights.
EnforcementEnforcement framework
-
2025-10-06•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan is implementing open banking as part of its 2024–2026 Financial Sector Development Strategy's Digital Finance initiative. Thirteen banks have integrated into the platform, with six more nearing completion, enabling customers to access multi-bank account information through mobile apps. The central bank aims to expand platform coverage by the end of 2025 to include more banks, payment institutions, and electronic money institutions.
Policy & regulationImplementation, projects & pilotsOpen banking and finance
-
2025-10-06•Azerbaijan•Central Bank of the Republic of Azerbaijan
The Central Bank of the Republic of Azerbaijan held the third "Macroeconomic Resilience" sub-working group meeting to advance the 2027–2030 socioeconomic development strategy. Discussions focused on strategic measures for macroeconomic stability and financial sector development, considering international practices and local conditions. The proposals aim to bolster macroeconomic resilience and financial stability while enhancing the financial sector's role in economic growth.
Policy & regulationReform agendas & prioritiesMacroprudential policy and tools
-
2025-10-06•Cambodia•Securities and Exchange Regulator of Cambodia
The Securities and Exchange Regulator of Cambodia (SERC) signed a Memorandum of Understanding with the Khmer Artist Association to enhance public awareness and participation in the Cambodian securities sector. Additionally, a strategic partnership agreement was signed between Royal Group Securities Plc. and GTN Asia Financial Services (Pte.) Ltd.
Policy & regulationCooperationDomestic cooperation
-
2025-10-06•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro announced Montenegro's operational membership in the Single Euro Payments Area (SEPA), enabling faster, lower-cost euro transactions starting 7 October 2025. Individuals can transfer up to EUR 200 daily to SEPA countries free, with fees for larger transfers capped at EUR 1.99 for amounts up to EUR 20,000 and EUR 25 for amounts above EUR 20,000. This follows Montenegro's alignment with European Payments Council standards, supported by the European Commission and the World Bank.
Policy & regulationImplementation, projects & pilotsCross-border payments
-
2025-10-06•Montenegro•Central Bank of Montenegro
The Central Bank of Montenegro, with De Nederlandsche Bank, is hosting an international seminar in Podgorica from 6 to 8 October 2025, focusing on empowering internal auditors within central banks. The event addresses data use, risk monitoring, AI tools, and ethics to enhance governance and strategic decision-making. Governor Irena Radovic highlighted the importance of advancing audit practices and fostering international cooperation among 18 central banks.
Institutional developmentCooperation & capacity buildingAuditing
-
2025-10-06•Hong Kong•Hong Kong Mandatory Provident Fund Schemes Authority
The Hong Kong Mandatory Provident Fund Schemes Authority reported total MPF assets reached HKD 1.53 trillion as of September 2025, with over HKD 200 billion from net investment returns. Equity and mixed assets funds showed strong performance, with average net returns of 18.8% and 10.6% respectively over the past year. The MPFA highlighted the importance of long-term investing and advised members to review portfolios considering objectives, risk, and fund performance.
Data & statisticsOther
-
2025-10-06•Croatia•Croatian Financial Services Supervisory Agency
The Croatian Financial Services Supervisory Agency and the Ministry of Finance introduced "RoadToMarket," a sandbox initiative for simulating capital market financing without regulatory obligations or costs. It offers simulations of IPOs and bond issuance, with expert mentorship. A draft design and phased approach were shared with potential partners for voluntary participation in methodology development and candidate education.
SupervisionInnovation & testingFintech and insurtechMarket development
-
2025-10-06•United States•U.S. Senate Committee on Banking, Housing and Urban Affairs
Democratic members of the Senate Banking and House Financial Services Committees filed an amicus brief urging the D.C. Circuit to rehear a case on Trump-era CFPB firings. Led by Warren, Waters, and Schumer, they argue dismantling the CFPB is unconstitutional, emphasizing its post-2008 crisis role. The release also details 2025 Democratic opposition to efforts undermining CFPB authority and funding.
OtherConsumer and investor protection
-
2025-10-06•Russia•Central Bank of Russia
The Central Bank of Russia updated parameters for irrevocable credit lines (ICLs) for systemically important credit institutions transitioning to a national liquidity coverage ratio (LCR) framework. Effective 30 October 2025, the ICL usage fee will be 1% per annum of the ICL limit, and the one-year term for ICLs has been removed. The ICL mechanism now covers only up to 20 percentage points of LCR volatility, with fees based on actual usage to encourage market-based compliance.
Policy & regulationRules & requirementsLiquidity riskPrudential risks
-
2025-10-06•Thailand•Thailand Securities & Exchange Commission
Thailand’s Securities and Exchange Commission, with key financial bodies, launched the Thai Capital Market Attractiveness Initiative to boost investor confidence and competitiveness. It focuses on Quality Demand, Attractive Supply, Trusted Market, and Supportive Ecosystem, including developing investment accounts, attracting quality listings, and improving corporate governance. Working groups will oversee these measures, with future phases addressing the bond market and digital capital market transition.
Policy & regulationReform agendas & prioritiesMarket development
-
2025-10-06•Morocco•Moroccan Capital Markets Authority
The Moroccan Capital Market Authority (AMMC) is participating in IOSCO’s World Investor Week 2025, focusing on investor education to enhance financial literacy. The AMMC's programme includes updated educational materials, a comic strip competition, and various events such as webinars and conferences, with content shared through social media and its financial literacy platform.
Financial literacy & educationFinancial literacy and education
-
2025-10-06•Saudi Arabia•Saudi Arabia Insurance Authority
Saudi Arabia's Insurance Authority held its second Insurance Diwaniya forum with insurance and reinsurance executives. Discussions focused on market developments, regulatory initiatives, sector challenges and opportunities, and service quality, with no specific new measures announced.
Policy & regulationCooperationMarket development
-
2025-10-06•Europe•European Fund and Asset Management Association
The European Fund and Asset Management Association (EFAMA) held its first industry-led conference on the European Long-Term Investment Fund (ELTIF), discussing ELTIF 2.0 reforms. Participants viewed the reforms as positive for mobilising long-term capital but called for further measures to enhance the ELTIF ecosystem, including cross-border distribution and tax incentives. An informal survey suggested significant growth in ELTIFs and assets by 2027, with private debt and infrastructure attracting new capital.
Policy & regulationCooperationMarket development
-
2025-10-06•Europe•European Payments Council
The European Payments Council has implemented its Verification Of Payee scheme rulebook to enhance payment security and assist payment service providers in complying with new EU requirements. This rulebook supports obligations under the EU Instant Payments Regulation, which amends the Single Euro Payments Area Regulation and takes effect for Eurozone providers on 9 October 2025.
Policy & regulationRules & requirementsPayments and payment systems
-
2025-10-06•Sweden•Finansinspektionen
The Swedish Financial Supervisory Authority has initiated an analysis to assess risks in transferring occupational pensions, focusing on shifts from traditional to unit-linked insurance. This involves meetings with major banks' insurance companies, mapping pension transfers linked to discounts on other services, and surveying firms on consumer needs. Concerns include potential incentives for recommending transfers for reasons beyond improving pension solutions.
SupervisionRisk monitoring & watch pointsConsumer and investor protection
-
2025-10-06•Canada•New Brunswick Financial & Consumer Services Commission
The New Brunswick Financial and Consumer Services Commission issued guidance due to the Canada Post strike, advising regulated parties to use alternative methods for time-sensitive documents or payments. Securities filings should be submitted by courier or email unless required through SEDAR+, SEDI, or NRD. The Superintendent of Pensions extended the deadline for annual statements due before September 30, 2025, to 30 days post-strike.
Policy & regulationGuidance & interpretationOther
-
2025-10-06•Nigeria•Central Bank of Nigeria
The Central Bank of Nigeria's Bullion journal, Volume 49, No. 3, explores monetary policy transmission, inflation dynamics, and financial market impacts in Nigeria. Key findings include the limited effectiveness of the Monetary Policy Rate (MPR) in controlling inflation, the significant influence of fuel prices, and the impact of exchange-rate volatility on inflation. The issue also proposes reforms for the journal, including standardised policy-brief boxes and broader peer review.
Research
-
2025-10-06•Europe•European Commission
The European Commission plans to deprioritise 115 non-essential Level 2 acts under its simplification agenda, delaying adoption until after 1 October 2027. This decision aims to reduce compliance costs and regulatory complexity associated with the high volume of Level 2 measures. The Commission will propose amending or repealing legal deadlines in Level 1 empowerments during upcoming revisions, in consultation with EU co-legislators.
Policy & regulationReform agendas & prioritiesRegulatory burden
-
2025-10-06•Canada•Payments Canada
Payments Canada submitted its pre-budget consultation response, recommending modernization of Canada's payment infrastructure for Budget 2025. It urges government support for the Real-Time Rail (RTR) system, legislative initiatives to enhance awareness and adoption, and implementation of amendments to the Canadian Payments Act. Payments Canada also seeks approval for by-law amendments to broaden system access and support enhancements to the Automated Clearing Settlement System.
Policy & regulationReform agendas & prioritiesPayments and payment systems
-
2025-10-06•Chile•Central Bank of Chile
The Central Bank of Chile's Survey of Price Determinants and Expectations shows stable 12-month inflation expectations at 4% and a slight decrease in 24-month expectations to 3.8%. The survey indicates stable firm prices and sales, with easing cost pressures but slightly increasing exchange rate pressures. The proportion of firms expecting input cost increases has declined, while expectations for raising selling prices remain unchanged.
Data & statisticsEconomic data and developments
-
2025-10-06•Norway•Norwegian Finanstilsynet
The Norwegian Financial Supervisory Authority's inspection report on Sparebanken Øst highlights deficiencies in internal governance, retail lending, and compliance with the Lending Regulation. Issues include inadequate credit case processing, underestimation of customer expenses, and insufficient documentation of credit decisions and arrears management. The report also identifies potential underestimation of default risk in corporate lending and weaknesses in complaint-handling controls.
SupervisionReviews, inspections & stress testsLendingClient asset custody and safekeeping
-
2025-10-06•Jersey•Jersey Financial Services Commission
The Jersey Financial Services Commission has appointed Lynn Cleary and Robert Milner as Commissioners, following the retirement of Matt Palmer. Cleary brings extensive leadership experience in finance and governance, while Milner is a legal expert in investment funds and regulatory development.
Institutional developmentLeadership change & appointmentsLeadership change and appointments
-
2025-10-06•United States•Office of the Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC) issued guidance and proposed rule changes to reduce regulatory burdens for community banks by tailoring supervision and simplifying compliance and licensing. The OCC clarified examination procedures, emphasizing risk-based supervision and non-prescriptive model risk management. Proposed changes include rescinding duplicative data collection and broadening eligibility for expedited licensing, with adjustments to the community bank leverage ratio framework and strategic plan processes under consideration.
Policy & regulationRules & requirementsRegulatory burden
-
2025-10-06•Vietnam•State Bank of Vietnam
The State Bank of Vietnam launched an initiative to support communities affected by Typhoon No. 10, urging officials to donate at least one day’s salary. The bank highlighted over VND 500 billion in contributions since 2020 and issued guidance for credit institutions to assist affected borrowers through measures like restructuring repayment schedules and considering interest waivers.
Policy & regulationRules & requirementsOther
-
2025-10-06•Vietnam•State Bank of Vietnam
The State Bank of Vietnam released Communist Party General Secretary To Lam’s speech at the 13th Central Committee meeting, outlining macroeconomic priorities for 2025–26 and preparations for the 14th Party Congress. The address reported Q3 GDP growth of 8.22% and set 2026 objectives, including over 10% economic growth and CPI inflation around 4.5%. Key priorities include strengthening growth drivers, accelerating digital and green transitions, and developing safe, transparent markets.
Monetary policyMonetary policy assessments & outlooksOther
-
2025-10-06•Switzerland•Swiss Financial Market Supervisory Authority (FINMA)
The Swiss Financial Market Supervisory Authority (FINMA) announced that the Swiss Federal Department of Economic Affairs, Education and Research has amended Annex 1 to the Ordinance on measures against Guinea-Bissau. The SESAM (SECO Sanctions Management) sanctions database has been updated accordingly, with changes effective from 8 October 2025 at 23:00.
Policy & regulationRules & requirementsSanctions list update
-
2025-10-06•Argentina•Argentina Superintendency of Insurance
Argentina’s Superintendency of Insurance amended the General Regulation of Insurance Activity to update valuation methods for technical reserves and eligible capital in workers’ compensation. The resolution revises formulas for Claims Reserve in the Process of Settlement and updates the Incurred But Not Reported reserve. Transitional adjustments allow insurers to recognize up to 30% of the minimum required capital from recent judicial conciliation payments.
Policy & regulationRules & requirementsCapital adequacy
-
2025-10-06•Denmark•National Bank of Denmark
The National Bank of Denmark released an analysis on resilient payments, recommending measures for citizens and merchants to maintain payment functionality during outages. Suggestions include using offline payments with physical cards, having multiple payment solutions, and ensuring preparedness. The Danish Payments Council is developing a national contingency solution for offline payments at pharmacies and supermarkets, expected by mid-2026.
Policy & regulationGuidance & interpretationPayments and payment systems
-
2025-10-06•Moldova•National Bank of Moldova
The National Bank of Moldova announced that the Republic of Moldova joined the Single Euro Payments Area (SEPA) on 6 October 2025, enabling faster, more secure euro transfers with potentially lower fees. This integration is expected to reduce costs compared to previous international transfer fees and generate macroeconomic savings of approximately EUR 20 million. Eight Moldovan banks are already SEPA participants, with more payment service providers likely to join.
Policy & regulationImplementation, projects & pilotsCross-border payments
-
2025-10-06•Europe•European Insurance and Occupational Pensions Authority
The European Insurance and Occupational Pensions Authority, European Banking Authority, and European Securities and Markets Authority warned about risks and limited legal protections of crypto-assets. They advise consumers to understand risks, verify EU authorisation, and secure wallets. The EU Markets in Crypto-Assets Regulation (MiCA) outlines protections, effective by December 2024, though full consumer protections may be delayed until July 2026.
SupervisionAlertsConsumer and investor protection
-
2025-10-05•Greece•Ministry of National Economy and Finance (Greece)
The Ministry of National Economy and Finance of Greece, led by Minister Kyriakos Pierrakakis, previewed the draft budget projecting public debt reduction from 145% of GDP in 2025 to below 140% in 2026, with growth above 2%. The government plans housing-market interventions, including incentives for long-term rentals and extending a ban on new short-term rentals in parts of Attica. Additionally, Greece aims to enhance cooperation with the European Public Prosecutor’s Office to expedite customs investigations as part of the Customs NextGEN programme.
Policy & regulationRules & requirementsOther
-
2025-10-05•Qatar•Qatar Central Bank
Qatar Central Bank Governor Sheikh Bandar bin Mohammed bin Saoud Al Thani and Egyptian Ambassador Walid ElFiky discussed enhancing bilateral cooperation in banking and finance.
Policy & regulationCooperationCross-border cooperation
-
2025-10-05•Kuwait•Central Bank of Kuwait
The Central Bank of Kuwait has opened applications for the thirteenth round of the Kuwaiti Graduates Development Program, a Kafa’a initiative aimed at preparing new graduates for banking careers through five months of training. Applications are accepted from 5 October to 23 October 2025, targeting Kuwaiti graduates in finance and economics.
Policy & regulationImplementation, projects & pilotsLicence approval
-
2025-10-05•Egypt•Egypt Financial Regulatory Authority
The Egypt Financial Regulatory Authority held high-level meetings in Riyadh with Saudi financial leaders to enhance regulatory cooperation and support financial innovation. Discussions included developing Egypt's derivatives market, securities lending, and market-maker mechanisms, as well as aligning licensing, supervision, and investor protection standards. The meetings also focused on sustainability accounting and ESG disclosure standards, emphasizing international frameworks and green finance initiatives.
Policy & regulationCooperationCross-border cooperationMarket development
-
2025-10-05•Dominican Republic•Central Bank of the Dominican Republic
The Central Bank of the Dominican Republic hosted Superior Electoral Court President Ygnacio Pascual Camacho to discuss institutional strength and a stable legal framework's impact on foreign direct investment. Governor Héctor Valdez Albizu emphasized macroeconomic stability and the social and legal environment, citing regular assessments by major financial firms. The meeting underscored the central bank's role as a stabilizing force in the Dominican financial system.
Other
-
2025-10-04•Netherlands•De Nederlandsche Bank
De Nederlandsche Bank published a speech by Olaf Sleijpen at the Irving Fisher Committee seminar in Amsterdam, addressing sustainability data issues and central banks' roles. The speech highlights data gaps due to inconsistent global legal requirements and suggests using alternative data sources and new data science techniques. It also notes DNB's and the European Central Bank's use of nowcasting for timely carbon statistics and flags upcoming work on sustainability statistics in the Netherlands.
ResearchClimate risk and sustainable finance
-
2025-10-04•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan has unveiled a draft Banks Law, proposing an overhaul of banking regulations, including digital financial assets, consumer protection, and bank resilience. Key features include a new legal regime for digital assets, a two-tier bank licensing model, expanded conduct supervision, and a three-stage crisis management framework. The draft also introduces Total Loss Absorbing Capacity requirements for systemically important banks and an "Islamic windows" model for conventional banks.
Policy & regulationRules & requirementsLicensing framework and process
-
2025-10-04•Fiji•Reserve Bank of Fiji
The Reserve Bank of Fiji supported SUN Insurance's launch of revised parametric microinsurance products under the InsuResilience Solution Fund Project, aimed at providing climate risk protection for disaster-affected communities. Key changes include a reduced Farmers Product strike level and merging of certain products, with Year 1 results showing significant growth in policyholders and payouts.
Policy & regulationImplementation, projects & pilotsClimate risk and sustainable finance
-
2025-10-03•Bulgaria•Bulgaria Financial Supervision Commission
The Bulgaria Financial Supervision Commission has registered SG FINANCE EOOD as a tied agent and ended the licensing process for Pridict EOOD to provide crowdfunding services.
SupervisionAuthorisations & approvalsLicence approval
-
2025-10-03•Europe•European Securities and Markets Authority
The European Securities and Markets Authority (ESMA) released its 2026 Annual Work Programme, focusing on simplification, risk-based supervision, and proportionate reporting. Key initiatives include consultations on integrated funds reporting and the investor journey, plus technical support for the European Commission’s Saving and Investments Union Strategy. ESMA's supervisory scope will expand to include Consolidated Tape Providers, ESG rating providers, and critical third-party providers under the Digital Operational Resilience Act, with additional focus on EMIR 3, the European Single Access Point, and MiCA-related work.
Policy & regulationReform agendas & prioritiesRegulatory burden
-
2025-10-03•Europe•European Financial Reporting Advisory Group
EFRAG updated the VSME Digital Template and XBRL Taxonomy for SMEs’ sustainability reporting, incorporating the European Commission’s VSME Recommendation and minor changes. The update includes a translation feature for multi-language use and Inline XBRL report generation, supporting Spanish, Polish, Lithuanian, and Portuguese. Additional enhancements and fixes have been implemented, with further translations expected in November 2025.
Policy & regulationImplementation, projects & pilotsAccounting and financial reporting
-
2025-10-03•Kosovo•Central Bank of the Republic of Kosovo
The Central Bank of the Republic of Kosovo hosted Saudi Arabia's non-resident Ambassador and a delegation from the Federation of Saudi Chambers to discuss investment opportunities and institutional cooperation. Discussions included financial stability, financial education, Kosovo's attractiveness for foreign investment, and the "TIPS Clone" fast payments system project. Both parties agreed to explore areas for mutual economic cooperation.
Policy & regulationCooperationCross-border cooperation
-
2025-10-03•Belgium•Belgium Financial Services and Markets Authority
The Belgium Financial Services and Markets Authority announced the resumption of trading in SOFINA financial instruments (ISIN BE0003717312) on Euronext Brussels on 3 October 2025 at 14:45 CET, under Article 78 of the Law of 21 November 2017.
SupervisionAuthorisations & approvalsTrading
-
2025-10-03•Montenegro•Montenegro Capital Market Authority
The Montenegro Capital Market Authority will participate in IOSCO’s World Investor Week for the first time, hosting a programme from 6 to 10 October 2025 focused on financial education and investor protection. The initiative targets young people, featuring lectures, interactive presentations, and visits to financial institutions to enhance understanding of capital markets.
Financial literacy & educationFinancial literacy and education
-
2025-10-03•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama's Banking Activity Report highlights a 7.80% increase in the International Banking Center's net loan portfolio to USD 99,613 million as of August 2025, with deposits rising 7.03% to USD 113,158 million. The report notes significant growth in the external loan portfolio and external deposits, alongside a 23.3% rise in new loan disbursements within the National Banking System. Legal liquidity and liquidity coverage ratios exceed the regulatory threshold, with a capital adequacy ratio of 15.78%.
SupervisionRisk monitoring & watch pointsCredit riskAsset quality
-
2025-10-03•Panama•Superintendencia de Bancos de Panama
The Superintendency of Banks of Panama attended the 40th Latin American Congress of Banking Security, focusing on cyber risk and enhancing banking protection standards. FELABAN's secretary general highlighted the persistent cybercriminal threat and the need for cooperation among banks, supervisors, and multilateral bodies. Experts urged continued investment in cybersecurity and strengthening the "chain of trust" to bolster financial system stability and confidence.
Policy & regulationCooperationCyber resilienceDomestic cooperation
-
2025-10-03•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia has launched an AI-based model to automatically grade anti-money laundering and terrorist financing programmes, enhancing efficiency and objectivity. Developed by the Center of Excellence and Artificial Intelligence Group, this tool replaces a manual process, reducing processing times and improving precision. The initiative is a key component of the authority’s Digital Supervision Strategic Plan.
SupervisionInnovation & testingSupervision process and methodologies
-
2025-10-03•Chile•Ministry of Finance (Chile)
Chile's Ministry of Finance, via Carola Moreno at ENAMAC 2025, detailed how the construction sector can access finance under sustainable criteria using Chile’s environmental taxonomy. This voluntary tool helps identify sustainable projects for green loans and bonds, aligning with the Ministry's Financial Strategy for Climate Change. Developed with stakeholder input, it supports comparability with international standards and addresses the construction sector's economic and emissions impact.
Policy & regulationGuidance & interpretationClimate risk and sustainable finance
-
2025-10-03•Chile•Ministry of Finance (Chile)
Chile's Ministry of Finance inaugurated Financial Education Month 2025, announcing an updated National Financial Education Strategy focusing on gender perspective, consumer protection, and civic education. Undersecretary Heidi Berner highlighted survey findings showing gender disparities in financial knowledge. Activities throughout October will address saving, investment, fraud, and financial well-being.
Financial literacy & educationFinancial literacy and education
-
2025-10-03•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus has issued a warning about a fraudulent letter using its insignia to solicit money. The Bank clarified it did not issue the letter and has referred the matter to authorities for investigation. It advised the public to remain vigilant and report such incidents to the Cyprus Police and the Bank.
SupervisionAlertsFraud and scams
-
2025-10-03•Cyprus•Central Bank of Cyprus
The Central Bank of Cyprus imposed a EUR 350,000 fine on Payabl. Cy Ltd for non-compliance with the Anti-Money Laundering and Combating Money Laundering Law of 2007 to 2025. The decision, based on a 2020 audit, was made under Article 59 of the law's supervisory measures framework. The enforcement notice outlines the administrative-law process, including an opportunity for the company to provide explanations before the final decision.
EnforcementInvestigations & enforcement actionsAML and CFT
-
2025-10-03•Italy•Bank of Italy
The Bank of Italy, through CERTFin, launched the 2025 I Navigati cybersecurity awareness campaign to educate the public on recognizing and preventing online fraud, including AI scams and instant bank transfers. The campaign emphasizes verifying information before acting and is shared via digital platforms. It involves the Italian Banking Association, IVASS, the Italian Police, and tech firms, supported by the Italian Data Protection Authority and Italy’s Cybersecurity Agency.
Financial literacy & educationCyber resilienceConsumer and investor protection
-
2025-10-03•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has initiated civil penalty proceedings against Fiducian Investment Management Services Limited in the Supreme Court of New South Wales for alleged breaches of duties and misleading ESG-related disclosures in the Diversified Social Aspirations Fund's Product Disclosure Statement (PDS). ASIC claims the fund's ESG processes did not align with PDS descriptions, including unmonitored underlying investments and unaddressed investor complaints. This is ASIC's fourth greenwashing civil penalty action and its first targeting a responsible entity for governance and compliance failures.
EnforcementInvestigations & enforcement actionsESGCorporate governance
-
2025-10-03•Australia•Australian Securities & Investments Commission
The Australian Securities & Investments Commission (ASIC) has cancelled the Australian financial services licence of Velos Global Markets Pty Ltd, effective 23 September 2025, after determining the firm ceased financial services operations. The cancellation was executed under section 915B(3) of the Corporations Act 2001, with Velos holding AFS licence number 500701 since November 2017. Velos may appeal ASIC's decision to the Administrative Tribunal.
SupervisionAuthorisations & approvalsUnlicensed or unauthorized activity
-
2025-10-03•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market amended accounting procedures for liability companies and reporting rules for commodity exchanges. It issued investor warnings, approved significant participations, confirmed regulatory compliance, approved senior appointments, and completed securities registrations, including corporate bond issues and collective investment fund prospectuses.
Policy & regulationRules & requirementsAccounting and financial reporting
-
2025-10-03•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market has amended its financial statement submission rules, mandating the use of XBRL format via the Financial Reporting Collection Center. The amendments, registered with the Ministry of Justice, eliminate the XML filing option and take effect on 1 November 2025.
Policy & regulationRules & requirementsAccounting and financial reporting
-
2025-10-03•Ukraine•Ukraine National Commission on Securities and Stock Market
The Ukraine National Commission on Securities and Stock Market approved a roadmap to align Ukraine's capital market framework with EU standards as part of accession negotiations. It includes a comparative assessment of Ukrainian legislation, identifies regulatory gaps, and prioritizes harmonization across financial sectors. A final report has been published in Ukrainian and English to support further approximation steps.
Policy & regulationReform agendas & prioritiesCross-border paymentsMarket development
-
2025-10-03•Ireland•Central Bank of Ireland
The Central Bank of Ireland will reduce the Insurance Compensation Fund levy on eligible non-life insurance policies from 2% to 1% effective 1 January 2026, the first change since 2012. This reduction is expected to decrease levy collections by about EUR 57 million, impacting home and motor insurance policyholders. The Bank anticipates the 1% rate will suffice to repay the outstanding loan balance and cover future fund demands, with another review scheduled for 2026.
Policy & regulationRules & requirementsOther
-
2025-10-03•Indonesia•OJK
Indonesia's Financial Services Authority (OJK) and Swiss Vice President Guy Parmelin visited Koperasi Peternakan Bandung Selatan to highlight an ERP system for digitising the dairy-cattle ecosystem and enhancing financial access for smallholder farmers. Supported by Switzerland's State Secretariat for Economic Affairs, this initiative is part of OJK's collaboration with the International Labour Organization under the Promise II Impact Project. A similar programme is being developed in Malang, East Java, integrating ERP with Alternative Credit Rating and Financial Services Aggregation Providers.
Policy & regulationImplementation, projects & pilotsFintech and insurtech
-
2025-10-03•Indonesia•OJK
Indonesia’s Financial Services Authority (OJK) held an "OJK Mengajar" session at Syiah Kuala University, urging students to become financial literacy ambassadors and engage in sharia-compliant investing. Executive Head Inarno Djajadi advised students to avoid FOMO investing, align investments with their risk profiles, and refrain from using debt-funded money. The event, attended by 1,500 students, also launched a programme for 3,000 Langsa city civil servants to invest in the capital market.
Financial literacy & educationFinancial literacy and education
-
2025-10-03•North Macedonia•National Bank of the Republic of North Macedonia
Governor Trajko Slaveski of the National Bank of the Republic of North Macedonia stressed the need for high-quality data and evidence-based analysis for credible monetary policymaking amid global uncertainty. A Global Central Banking survey identified financial stability and resilience as top priorities for over 45% of central banks, followed by inflation control and addressing cybersecurity and AI challenges. Slaveski also highlighted the central bank's focus on digital transformation and advanced research to support macroeconomic and financial stability.
Monetary policyMonetary policy framework & strategyMonetary policy decisions and developments
-
2025-10-03•Pakistan•Securites & Exchange Commission of Pakistan
The Securities and Exchange Commission of Pakistan (SECP) consulted with the Association of Builders and Developers of Pakistan on a regulatory framework for real estate companies seeking advance deposits. The framework, under the Companies Act, 2017, mandates a no-objection certificate from SECP and escrow accounts for public advances. Discussions focused on investor protection, transparency, and practical sector considerations.
Policy & regulationReform agendas & prioritiesOther
-
2025-10-03•Mexico•Central Bank of Mexico
The Central Bank of Mexico has initiated a public consultation on proposed amendments to rules concerning the Legal Entity Identifier (LEI) code and derivatives transactions, focusing on LEI usage and margin requirements. The amendments aim to enhance participant identification in Mexico’s financial system and improve exposure aggregation. The changes would extend LEI application in derivatives and update margin requirements for non-centrally cleared derivatives involving State-owned enterprises.
Policy & regulationRules & requirementsRegulatory reporting
-
2025-10-03•Ireland•Department of Finance (Ireland)
Ireland's Department of Finance announced the Central Bank of Ireland's decision to reduce the Insurance Compensation Fund levy from 2% to 1%, effective 1 January 2026. Minister of State Robert Troy urged insurers to pass the reduction to customers. The levy, initially reintroduced to repay a EUR 1bn Exchequer advance, has an outstanding balance of over EUR 270m as of end-2023.
Policy & regulationRules & requirementsOther
-
2025-10-03•Ireland•Department of Finance (Ireland)
Ireland's Department of Finance has set a nil levy for the Credit Institutions Resolution Fund and the Credit Union Stabilisation Fund, pausing collections until October 2029. Interest will continue to accrue, and levies may resume if funds are drawn or the sector's risk profile worsens. The next comprehensive review is scheduled for 2029.
Policy & regulationRules & requirementsOther
-
2025-10-03•Portugal•Bank of Portugal
The Bank of Portugal released updated Central Balance Sheet corporate statistics for Q2 2025, noting a decline in average financing cost to 4.7% and profitability at 9.3%. Financial autonomy increased slightly to 45.4%, with small and medium-sized enterprises rising to 46.3% and large companies falling to 40.2%. The decline in financing costs was attributed to falling interest rates, while coverage of financing expenses rose to 7.3, except in certain sectors.
Data & statisticsBalance of payments and other external statistics
-
2025-10-03•Portugal•Bank of Portugal
The Bank of Portugal updated its economic indicators for non-financial corporations through 2024, noting stronger equity and financial autonomy despite weaker profitability and rising financing costs. Corporate turnover grew by 3.3%, with increases in construction, real estate, accommodation, and food services, while electricity, gas, and water sectors declined. EBITDA rose by 2.5%, but the margin decreased slightly due to higher personnel expenses, and financing costs increased to 5% by the end of 2024.
Data & statisticsFinancial and market indicatorsSupervisory data
-
2025-10-03•Botswana•Botswana Non-Bank Financial Institutions Regulatory Authority
Botswana’s Non-Bank Financial Institutions Regulatory Authority (NBFIRA) has issued guidance on Simplified Due Diligence (SDD) under the Financial Intelligence Act, 2022. The guidance clarifies that SDD is a risk-based adjustment to customer due diligence, not an exemption, and requires entities to document and justify SDD decisions. NBFIRA may take regulatory action if SDD is misapplied or compliance with the Act is not demonstrated.
Policy & regulationGuidance & interpretationKYCAML and CFT
-
2025-10-03•Colombia•Superintendencia Financiera de Colombia
The Financial Superintendence of Colombia (SFC) warned that SmartSTP and its platform are unauthorized to offer financial products in Colombia and are not under SFC supervision. The platform claims regulation by the Financial Services Commission of Mauritius and markets high-risk instruments, but the SFC received over 20 complaints about withdrawal issues and potential total loss of funds. The SFC advises consumers to verify firm authorization and conduct due diligence.
SupervisionAlertsUnlicensed or unauthorized activity
-
2025-10-03•Belize•Central Bank of Belize
The Central Bank of Belize issued guidance supporting the Government of Belize’s Free Movement Regime, granting CARICOM nationals from Barbados, Dominica, and Saint Vincent and the Grenadines the same banking access as resident Belizeans. Eligible nationals can open local currency accounts without Central Bank approval, and prior notice is no longer needed for property sales or company setups. However, Belizeans transferring funds for migration to these countries require Central Bank approval, and financial institutions must maintain AML/CFT standards and update policies.
Policy & regulationGuidance & interpretationFinancial inclusion
-
2025-10-03•Greece•Ministry of National Economy and Finance (Greece)
Greece's Ministry of National Economy and Finance detailed its tax policy at the Athens Riviera Summit 2025, focusing on tax cuts, legislative modernization, and digitalization to boost growth. Deputy Minister George Kotsiras noted the reduction of 83 taxes since 2019 and updates to the Property Tax Code and National Customs Code. The government seeks to improve taxpayer service and compliance while ensuring fiscal stability.
Policy & regulationReform agendas & prioritiesOther
-
2025-10-03•Sweden•Riksbank
Sweden's Riksbank has agreed with payment market participants to enable offline card payments for essential goods during digital communication disruptions, targeting implementation by 1 July 2026. The solution involves offline authorisation via the card's EMV chip and PIN, excluding contactless payments, with a per-transaction floor limit of at least SEK 2,000. Card issuers, networks, and acquirers will adapt systems and rulebooks to support this initiative, with further work planned post-implementation for other payment methods.
Policy & regulationImplementation, projects & pilotsPayments and payment systems
-
2025-10-03•Peru•Superintendencia de Banca, Seguros y AFP del Peru
Peru's Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) issued guidance for Financial Education Week, emphasizing personal finance and fraud-prevention practices. Activities include workshops for diverse groups and the launch of a new "Aprende con la SBS" website section to provide accessible financial sector information.
Financial literacy & educationFinancial literacy and education
-
2025-10-03•Austria•Austria Financial Market Authority
The Austria Financial Market Authority reported that the Financial Market Stability Board recommended maintaining the countercyclical capital buffer at 0% and keeping buffer levels for systemically important institutions unchanged. The Board used a new methodology from the Oesterreichische Nationalbank for buffer assessment and noted ongoing systemic risks in commercial real estate financing. Additionally, the Board revised its Rules of Procedure to align with the Freedom of Information Act, expanding public disclosures to include meeting details and minutes.
Policy & regulationRules & requirementsOther
-
2025-10-03•Hong Kong•Hong Kong Monetary Authority
The Hong Kong Monetary Authority issued a public alert about bank-related scams involving fraudulent websites, fake internet banking login screens, and phishing emails. The alert highlights press releases from banks like The Bank of East Asia and China CITIC Bank International. The HKMA reminded the public that banks will not request sensitive information via SMS, email, or phone, and advised those affected to contact their bank and report to the Hong Kong Police Force.
SupervisionAlertsFraud and scams
-
2025-10-03•Cyprus•Cyprus Securities and Exchange Commission
The Cyprus Securities and Exchange Commission announced that Resolute Investment Management (Cyprus) Ltd has initiated the dissolution and liquidation of CENDRUS GREECE INVENTION RAIF V.C.I.C. PLC, a Registered Alternative Investment Fund. The fund will remain on the RAIFs Registry with a status of "under liquidation" until the process is completed and all necessary documents are submitted.
SupervisionAuthorisations & approvalsOther
-
2025-10-03•Finland•Ministry of Finance (Finland)
Finland's Ministry of Finance and Ministry of Employment and the Economy hosted a roundtable on crypto technology, discussing regulation, risk supervision, and innovation growth. The event highlighted crypto-assets' dual role as speculative investments and potential monetary instruments, with emerging crypto-based payment alternatives. Minister Sakari Puisto noted Finland's early adoption of the EU Markets in Crypto-Assets Regulation.
Policy & regulationCooperationFintech and insurtechRegulatory sandbox
-
2025-10-03•Isle of Man•Isle of Man Financial Services Authority
The Isle of Man Financial Services Authority announced that Montpelier (Trust and Corporate) Services Limited, currently in liquidation, surrendered its licence effective 30 September 2025.
SupervisionAuthorisations & approvalsLicence withdrawal
-
2025-10-03•Global•Bank for International Settlements
The Bank for International Settlements’ Basel Committee on Banking Supervision released an annual update on Basel III reforms, noting over 40% of member jurisdictions have implemented the final standards. Revised credit and operational risk standards are effective in about 80% of jurisdictions, while the credit valuation adjustment framework is in nearly 70%. The Committee will monitor full and consistent implementation following the Group of Central Bank Governors and Heads of Supervision's reaffirmation.
Policy & regulationPeer reviews and country evaluationsCapital adequacy
-
2025-10-03•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
Kazakhstan's Financial Market Agency proposed a draft law for conventional banks to offer Islamic finance products via "Islamic windows" under existing licenses. This requires organisational segregation, separate accounting, and qualified staff, with assets and liabilities recorded separately. Initially, banks will follow existing prudential norms, with potential future adjustments to capital adequacy and liquidity indicators.
Policy & regulationGuidance & interpretation
-
2025-10-03•Kazakhstan•Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan
The Agency for Regulation and Development of the Financial Market of Kazakhstan discussed parametric reinsurance for catastrophe risks with the Ministry of Emergency Situations, Swiss Re, and the Agroinsurance Association. Parametric reinsurance triggers payouts based on pre-defined event parameters. A memorandum of understanding was signed between the Ministry of Emergency Situations and Swiss Re to develop effective catastrophe risk insurance instruments.
Policy & regulationCooperationOther
-
2025-10-03•Türkiye•Insurance and Private Pension Regulation and Supervision Agency of Türkiye
Türkiye's Insurance and Private Pension Regulation and Supervision Agency released a draft for stakeholder feedback to revise insurance arbitration governance and dispute-resolution processes. Key proposals include amicable compensation resolution mechanisms, a Disciplinary Board, and an Advisory Board for consistent framework application. The draft also aims to enhance arbitrators' independence and improve the arbitration system's organisational and operational aspects.
Policy & regulationRules & requirementsComplaints and dispute resolution
-
2025-10-03•India•Reserve Bank of India
The Reserve Bank of India has expanded foreign exchange directions for Special Rupee Vostro Accounts (SRVAs), allowing holders to invest rupee surplus balances in non-convertible debentures, bonds, and commercial papers issued by Indian companies. These investments are subject to corporate debt securities investment limits under the General Route but are exempt from the minimum residual maturity requirement and issue-wise limit. Authorised Dealer Category-I banks must open separate demat accounts for SRVA holders and report transactions to SEBI-registered depositories.
Policy & regulationRules & requirementsForeign exchange policy and markets
-
2025-10-03•Thailand•Thailand Office of Insurance Commission
The Thailand Office of Insurance Commission discussed with the insurance industry to enhance consumer protection and reduce complaints, focusing on service and claims handling by life and non-life insurers. Key topics included compliance with Service Level Agreement timeframes, earthquake-related claim payments, and the impact of anti-mule account measures on premium collection. The Office plans focus group training on the online complaints system and further study of insurance arrangements for foreign tourists.
Policy & regulationGuidance & interpretationComplaints and dispute resolution
-
2025-10-03•Tajikistan•National Bank of the Republic of Tajikistan
The National Bank of the Republic of Tajikistan and the European Bank for Reconstruction and Development (EBRD) discussed expanding cooperation on financial-sector projects, focusing on SMEs, women entrepreneurs, youth, and "green economy" initiatives. Talks also addressed developing Tajikistan's insurance market, referencing the 2025–2029 Strategy for Development of the Insurance System. Both parties expressed readiness to continue implementing priority projects.
Policy & regulationCooperationCross-border cooperation